Mackenzie Financial Corp Has $3.23 Million Stock Holdings in Arrow Electronics, Inc. (NYSE:ARW)

Mackenzie Financial Corp lowered its stake in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 44.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 26,729 shares of the technology company's stock after selling 21,008 shares during the period. Mackenzie Financial Corp owned approximately 0.05% of Arrow Electronics worth $3,228,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in shares of Arrow Electronics in the 1st quarter worth approximately $682,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Arrow Electronics by 20.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 59,293 shares of the technology company's stock valued at $7,404,000 after purchasing an additional 10,083 shares during the period. Illinois Municipal Retirement Fund raised its holdings in Arrow Electronics by 128.9% in the first quarter. Illinois Municipal Retirement Fund now owns 35,304 shares of the technology company's stock worth $4,570,000 after purchasing an additional 19,880 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Arrow Electronics by 6.8% during the first quarter. Russell Investments Group Ltd. now owns 96,210 shares of the technology company's stock valued at $12,456,000 after acquiring an additional 6,157 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Arrow Electronics by 368.7% in the 1st quarter. State of Alaska Department of Revenue now owns 27,412 shares of the technology company's stock worth $3,548,000 after purchasing an additional 21,563 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Analysts Set New Price Targets

ARW has been the subject of several recent research reports. Truist Financial lifted their price objective on Arrow Electronics from $124.00 to $141.00 and gave the company a "hold" rating in a research note on Friday, August 2nd. Raymond James increased their price target on Arrow Electronics from $135.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $130.75.

Arrow Electronics Trading Down 0.6 %

ARW stock traded down $0.80 during midday trading on Wednesday, hitting $130.98. The stock had a trading volume of 276,292 shares, compared to its average volume of 479,595. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average price of $128.68 and a two-hundred day moving average price of $127.10. The firm has a market cap of $6.97 billion, a P/E ratio of 10.33 and a beta of 1.26. Arrow Electronics, Inc. has a 1-year low of $108.51 and a 1-year high of $136.93.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The company had revenue of $6.89 billion for the quarter, compared to analysts' expectations of $6.52 billion. During the same quarter in the previous year, the company earned $4.37 earnings per share. Arrow Electronics's quarterly revenue was down 19.0% on a year-over-year basis. On average, sell-side analysts predict that Arrow Electronics, Inc. will post 10.74 earnings per share for the current fiscal year.

Arrow Electronics Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.